Roberto Cavalli Sells 20 Percent of Shares

Cavalli did not have any choice but to sell a smaller amount of shares, because he urgently needed a financial injection.

The crisis has hit the fashion empire of the famous designer Roberto Cavalli, who was forced to sell 20 percent of the shares in his company.

Cavalli sold some of the shares to the company Clessidra Capital Partners, which is linked to premier Silvio Berlusconi in Italy. Cavalli did not have any choice but to sell a smaller amount of shares, because he urgently needed a financial injection.

“I had to think hard about it over the last few weeks and I believe that it is the right way to ride the recovery after this moment of international economic-financial crisis” said Roberto Cavalli for the Italian daily Il Sole 24 Ore.